Near Term Trend: Neutral / Bearish
As of 7/13/18 close: 1,241.80
Last week, I suggested covering shorts and getting short at 1,289 with a stop above 1,294.70 and with a target of 1,160.
Gold finally hit one of the short-term downside targets near 1,235. We could see a bounce in gold up to either 1,265 or 1,295 near-term.
Aspiring longs can try buying near 1,235 with a target of 1,265. Bears can try to short near 1,295. Honor stops above 1,297 and look for a move down to 1,161 to play out before covering.